The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1887-01-14
LINCoLN's QUEER STORY.
He Answers Secretary Chase by Telling
Tale OF q Leaky Shin.

LlNCoLN'S QUEEh SIOh1s
He Answers Secretary Chase by Telling
Tale OF a Leaky Ship.
Amasa Walker, distinguished finan-
cier of New England, had thought
that was new. He suggested that the
notes issued directly from the govern
ment to the people should bear interest
This for the purpose not only of making
the notes popular, but for the purpose Of
preventing Initiation by inducing the
people to hoard the notes as an invest
ment when the demands of trade failed
to call them into circulation as a cur
rency. This idea, says Don Piatt in the
North american Revieso. struck Mr..
David Taylor of Ohio with such force
that he sought Mr.. Lincoln and urged
him to put the project into immediate
execution. The president listened pa
tiently, and at the end said: THAT is
a good idea, Taylor, but you must 60 to
Chase. He is running that end OF the
machine, and has time TO consider your
proposition" Taylor sought the sec
rotary of the treasury and laid before
him Amasa Walkers plan. Chase heard
him through in cold, unpleasant man
ner, and then said: THAT is all very
well, Mr.. Taylor. but there is one little
obstacle in the way that makes the plan
impracticable, and that is the constitu-
ton" saying this he turned to his desk
as if dismissing both Mr.. Taylor and
his proposition at the same moment
The poor enthusiast felt rebuked and
Inundated. He returned to the presi-
dent, however. and reported his defeat
Mr.. Lincoln looked at the would-be
tinancier, with the expression at times
SO peculiar to his homely face, that left
one in doubt as to whether he was jest
ing or in earnest. Taylor" he ex-
claimed, Ego back to Chase and tell
him not to bother himself about the
constitution. Say that l have that
sacred instrument here at the white
house, and am guarding it with great
care" Mr.. David Taylor demurred to
this, on the ground that Mr.. Chase
showed by his manner that he knew
all about it, and he didn't wish to be
bored by any suggestion. "We'l see
about that" exclaimed the president,
and, taking a card from the table, he
wrote upon it: THE secretary of the
treasury will please consider Mr.. Tay-
lor's proposition. We must have money,
and l think this a good way to get II.
A. Lincoln
Armed with this the real father of the
greenbacks again sought the secretary.
He was received more politely than be-
fore, but was cut short in his advocacy
of the measure by proposition for both
of them to see the president They did
80, and MIR. Chase made long and elab-
crate constitutional argument against
the proposed measure. Chase" said
Mr.. Lincoln, after the secretary had
concluded, down in Illinois was held
to be a pretty good lawyer. and be-
lieve l can answer every point you
have made, but don't feel called upon
to do it. This thing reminds me of a
story l read in a newspaper the other
day. 1t was of an Italian captain who
run his vessel on a rock and Knocked a
hole in her bottom. He set his men to
pumping, and he went to prayers before
figure of the Virgin in the bow of the
| ship. The leak gained on them. 1t
looked at last as if the vessel would 90
down with all on board. The captain,
at length, in a fit of rage at not having
his prayers answered, seized the figure
of the Virgin, and threw it overheard.
Suddenly the leak stopped, the water
was pumped out, and the vessel got
safely into port. When docked for
repairs the statue of the Virgin Mary
was found stuck headforemost in the
hole"
Il don't see, Mr.. President the pre-
else application of your story" said
Mr.. Chase.
why, Chase, don't intend precise
ly to throw the Virgin Mary overheard,
and by that mean the constitution, but
will stick it in the hole if can. These
rebels are violating the constitution to
destroy the union; will violate the
constitution, if necessary, TO save the
union; and suspect, Chase, that our
constitution is going to have a rough
time of 1t before we get done with this
row. Now, what l want to know is
whether, constitution aside, this project
OF issuing interest-bearing notes is 9
| good one"
II must say" responded Mr.. Chase,
'that with the exception you make, it is
not only a good one. but the only way
open to us to raise money. If you say
so, ] will do my best to put it into inn
mediate and practical operation, and
you will never hear from me any opposi.
ton on this subject"